The gig economy: transforming the workforce

EY reports on the phenomenon of the gig economy – swiftly changing the landscape of work – and transforming the shape of the workforce along with it. Contending that the rise of the gig economy is helping organizations address needs such as dealing with rapidly shifting consumer preferences and competing with more nimble start-ups, it’s safe to say that it seems to be more than just a passing trend. Statistics reveal that two in five organizations expect to increase their use of the contingent workforce by 2020. This article further examines the gig economy in all of its glory – shedding light on the true definition, benefits and challenges thereof.